Where Should We Get Our Money?
This very much reminded me about the time I first learnt Robert Kiyosaki's Cash Flow Quadrant. But Bob's take on it really added another dimension to this whole concept for me.
To re-cap, from Robert's teachings, I understood there were 4 ways an individual can earn income (legally, without winning the lottery or marrying into it). They are namely employment, self employment, business, and investment.
Now to be able to retire rich without having to trade time for it, one must have his/her income, come from either a business or investment. From this we can see that it would probably be best to start out with a business first, as investment usually requires some amount of financial backing to start. You can see this in the fact that 74% of those who were regarded as wealth, created it through a business of their own.
Bob's
version, has 3 strategies an individual
earns income. These include employment,
investment, and lastly multiple streams
of income.
No guesses , where Bob has created his
wealth. It is through multiple streams of
income. He told us during his talk that
he had so many different sources of
income, he has had to get somebody, whose
job it is, to keep track of all the
sources of income.
Now, not all these streams are of the
same size. Some are smaller and others
bigger. The point is to have lots of it,
such that even if you just had small
streams of income, the accumulation of
which, would create you tremendous
wealth.
With Bob's addition, I have been able to
appreciate the concept of income
generation to a new level. I have known
that business was the way to go. But now
my awareness has grown. To accept that we
shouldn't just stop at one business. We
should aim for several.
I already have a business of my own. But
what I like best about The SGR Program is
that it allows me to generate a new
stream if income. One that doesn't take
too much time. Which allows me to explore
other opportunities to develop other
streams of income.
